• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Friday, May 23, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Crypto

Cathie Wood buys shares of Tesla and Coinbase amid inflation

by Prity Khanal
December 16, 2022
in Crypto, Markets, News
Reading Time: 2 mins read
0
Cathie Wood attributes recent crypto crash to Elon Musk and ESG movement

Cathie Wood, founder of ARK investment management image credits:

TwitterWhatsappLinkedin

As electric vehicles are capturing the market, many investors are investing in electric vehicles and Cryptocurrencies. One such investor is Cathie Wood who made an extra purchase of shares in Elon Musk’s company, Tesla Inc., and Coinbase Global Inc.

You might also like

Russia Mandates Tracking App for Foreigners in Moscow Region Amid Crime Concerns

Crypto Tycoon Justin Sun’s Stunning Return to U.S. for Private Dinner with Donald Trump 

House Passes Sweeping Trump Tax Bill Amid Controversy Over Cuts and Costs

 

Cathie believes that electric vehicles and Cryptocurrencies are the key sensations that will go forward in the future.

 

On Wednesday, a number of Ark Investment Management LLC funds, including Wood’s flagship Ark Innovation ETF, purchased nearly 75,000 shares of the electric automaker company and about 297,000 shares of the cryptocurrency exchange operator. The company has been continuing a buying binge that started in October, according to data collected by Bloomberg.

Cathie Wood
Cathie Wood
Image: Barron’s

Wood’s company Ark has continued its purchases of cryptocurrency company Coinbase even though crypto is under uncertainty after the collapse of FTX run by Sam Bankman-Fried. Coinbase shares fell extremely low on Tuesday before recovering slightly on Wednesday.

 

Cathie’s largest fund, ARK Disruptive Innovation Strategy, is down 60% this year, compared to a 28% loss for the Nasdaq 100 and a 16% decline for the S&P 500. The previous month, it repeated its $1 million -Target for Bitcoin, the biggest crypto token, presently trading at about $17,600.

 

To note, Tesla shares are at their lowest in more than two years amid a crisis about a possible recession, a tightening Federal Reserve, and founder Elon Musk’s actions to lessen his stake in the electric vehicle maker.

 

According to data from Bloomberg, Cathie’s firm is one of the biggest shareholders of Coinbase. The company holds a round 4.3% stake as of 30 September while her company owns only a 0.13% stake in Tesla although the stock is the main fund’s top holding.

 

As inflation hit hard, shares of Tesla dropped 2.5% in premarket trading on Thursday, and Coinbase also dropped 2.5%.

 

Tesla owner Elon Musk, this year, has made enormous investments mainly the $44 billion Twitter deal which cost him to sell off around or more than $15 billion Tesla shares to aid him with the contract of Twitter. Further, he disbursed $4 billion on the stock in November.

 

Moreover, he took billions of bank loans which is noted in the balance sheet of Twitter that mandates payment of interest.

 

Tesla and other supplies have been smashed especially hard by inflation and increasing rates. Musk has been urging the Fed to alter its hikes to evade an unbearable recession, and emphasized the risks of owning capital when rates are growing larger and the economy is deteriorating.

 

“At risk of stating obvious, beware of debt in turbulent macroeconomic conditions, especially when Fed keeps raising rates,” he said.

 

 

 

Tags: #Cathie_Wood#ceooftwitter#Crypto#ELON_MUSKCoinbaseSpaceXTesla
Tweet54SendShare15
Previous Post

Donald Trump, a former president, unveils his first NFT collection

Next Post

Meta halts construction of data centers in Odense

Prity Khanal

Prity is a content writer whose passion lies in writing to inspire others. She specialises in the field of law. With a curious mind and love for research and proficiency in creating informative narratives, she has specialised in tech, crypto, and is up-to-date with current market changes and flexible in various other fields.

Recommended For You

Russia Mandates Tracking App for Foreigners in Moscow Region Amid Crime Concerns

by Harikrishnan A
May 23, 2025
0
Apple Complies with Russian Government, Removes VPN Apps from App Store

The Russian government is pushing forward a new regulation that will require all foreign nationals living in the Moscow region to install a mobile tracking app on their...

Read more

Crypto Tycoon Justin Sun’s Stunning Return to U.S. for Private Dinner with Donald Trump 

by Anochie Esther
May 23, 2025
0
Justin Sun

Just a few years ago, Justin Sun a young crypto billionaire with a flashy lifestyle and a growing list of legal headaches wouldn’t dare step foot in the...

Read more

House Passes Sweeping Trump Tax Bill Amid Controversy Over Cuts and Costs

by Anochie Esther
May 23, 2025
0
Donald Trump

In a dramatic late-night vote, the House of Representatives narrowly passed a sweeping piece of legislation backed by former President Donald Trump, setting the stage for a fierce...

Read more
Next Post
Lawsuit Filed Against Meta For Using User Data Without Consent

Meta halts construction of data centers in Odense

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?